Kenya can ease its debt burden if it adopts proposals by major credit rating agency, Moody's, are to be adopted.
The agency is of the view that by developing an environment where governments, corporations, and other entities can borrow money by issuing bonds or other debt instruments in the local currency, Kenya can ease its debt burden and protect itself from global shocks.
By doing this, Kenya will create a liquid local debt market in its currency, shielding it from global volatility such as that was brought by tariffs imposed by US President Donald Trump and fickle foreign investors, who impose strict guidelines on loans.
Speaking to Reuters, Moody's global head of sovereign and sub-sovereign risk, Marie Diron, cited countries such as Benin and Ivory Coast, which have beefed up their local funding and are fairing well.
